Planet Fitness (NYSE:PLNT) Stock Price Up 6.6% – Here’s What Happened

Planet Fitness, Inc. (NYSE:PLNT)’s stock price shot up 6.6% during mid-day trading on Friday. The stock traded as high as $46.73 and last traded at $46.9220. 280,222 shares were traded during trading, a decline of 87% from the average daily volume of 2,145,414 shares. The stock had previously closed at $44.03.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PLNT shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Planet Fitness in a research note on Monday, September 14th. Wells Fargo & Company reissued an “overweight” rating on shares of Planet Fitness in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $55.00 price objective on shares of Planet Fitness in a research report on Wednesday, July 22nd. Morgan Stanley increased their price objective on Planet Fitness from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $69.34.

Planet Fitness Trading Up 7.9%

The stock has a market capitalization of $3.59 billion, a PE ratio of 16.05, a PEG ratio of 0.93 and a beta of 1.05. The company’s 50 day simple moving average is $49.06 and its 200 day simple moving average is $55.17.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company had revenue of $365.22 million during the quarter, compared to the consensus estimate of $356.21 million. During the same period in the previous year, the firm posted $0.86 EPS. Planet Fitness’s revenue was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, analysts predict that Planet Fitness, Inc. will post 3.21 EPS for the current year.

Insider Buying and Selling

In other Planet Fitness news, Director Christopher Tanco bought 2,328 shares of Planet Fitness stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the transaction, the director owned 2,328 shares of the company’s stock, valued at $119,263.44. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Spinelli, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, valued at $2,243,028.48. The trade was a 28.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc increased its position in Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock worth $26,000 after purchasing an additional 366 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Planet Fitness by 2,278.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,118 shares of the company’s stock valued at $58,000 after buying an additional 1,071 shares during the period. SHP Wealth Management acquired a new stake in shares of Planet Fitness during the 4th quarter worth $71,000. EverSource Wealth Advisors LLC raised its position in shares of Planet Fitness by 142.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 985 shares of the company’s stock worth $73,000 after buying an additional 579 shares during the period. Finally, Allworth Financial LP raised its position in shares of Planet Fitness by 15.5% in the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after buying an additional 228 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.